M
MASHH
New Member
Being optimistic is good as I said earlier, but also being realistic is. I believe a person should have a business plan for mainly everything whether buying a car, house, getting a mortgage, literally in everything that will make life easier somehow...
2009 was a great drunken late night for the most happy about this new year coming up, but alot of ppl are suffering these days and now it’s all about surviving and keeping there job secured (am one of them). Day by Day you hear stories abt x getting fired, y back to his town.etcc etc and all of those are facts and everyone in this forum knows someone who got fired or a friend of a friend got fired and looking for a job.
The situation at the moment and basically this year is going to be as aloot are saying is the beginning of a journey in a yacht towards a big storm, and all what we've seen or heard so far is a bunch of waves hitting the yacht, my self and my opinion is this year is going to be really bad...why?
Corporate lending, mortgages, personal loans, auto loans basically money is not available or in other words not offered by banks and if its there its on case to case basis or with lotsss of paper word and requirments..a cousin of mine whose a corporate manager told me that they are exiting companies with limits and they are ONLY giving loans to big big companies that can handle a loan as they don’t want risks...the crisis ladies and gents isn’t only in the real estate market, its all over the work industry at the moment literally every sector is suffering not the property market only...
NO CASH
Banks still didn’t get any defaulters YET, but soon they will. As most of you know or heard they have found aprox 3,000 cars (am sure about 1,000 but a friend told me they are 3,000) in the airport that are left by owners who cant pay or got fired from their jobs, and this is on a secured loan so you can imagine how it will be on credit cards and personal loans (unsecured loans)...
Banks have lowered the limitations on credit cards for lots of customers just to stay in the safe side and this is a fact. another fact is ppl at the airport a friend of mine saw them crying in tears as they were leaving Dubai coz they cant live here anymore due to the situation and coz they got fired and this is really bad...
Mortgage defaulters will be the next big issue in Dubai and laws will change, ppl will go to Gail for that (not to scare anyone but these are the rules),a good positive thing is that developers are giving buyers an extension in the payments that can go up to 6months and you might say that’s good but why would a developer do that? The answer is simple...THERE ARE NO OTHER BUYERS..
I really cant wait till this year ends and with gods will if were still alive to witness the next 2010 we might be walking with a smile and sleeping with no nightmares.. please all if you have any opinion on what will happen or heard things that REALLY happened in Dubai please do share so we can all be on the same page..
Good luck all in everything and hope things will get better and banks will be back in businesss ASAP as they are the main player in this situation..
Just wanted to share this opinion with alll...feeel freee to express opinions especially sasherwani
Cheeerss
2009 was a great drunken late night for the most happy about this new year coming up, but alot of ppl are suffering these days and now it’s all about surviving and keeping there job secured (am one of them). Day by Day you hear stories abt x getting fired, y back to his town.etcc etc and all of those are facts and everyone in this forum knows someone who got fired or a friend of a friend got fired and looking for a job.
The situation at the moment and basically this year is going to be as aloot are saying is the beginning of a journey in a yacht towards a big storm, and all what we've seen or heard so far is a bunch of waves hitting the yacht, my self and my opinion is this year is going to be really bad...why?
Corporate lending, mortgages, personal loans, auto loans basically money is not available or in other words not offered by banks and if its there its on case to case basis or with lotsss of paper word and requirments..a cousin of mine whose a corporate manager told me that they are exiting companies with limits and they are ONLY giving loans to big big companies that can handle a loan as they don’t want risks...the crisis ladies and gents isn’t only in the real estate market, its all over the work industry at the moment literally every sector is suffering not the property market only...
NO CASH
Banks still didn’t get any defaulters YET, but soon they will. As most of you know or heard they have found aprox 3,000 cars (am sure about 1,000 but a friend told me they are 3,000) in the airport that are left by owners who cant pay or got fired from their jobs, and this is on a secured loan so you can imagine how it will be on credit cards and personal loans (unsecured loans)...
Banks have lowered the limitations on credit cards for lots of customers just to stay in the safe side and this is a fact. another fact is ppl at the airport a friend of mine saw them crying in tears as they were leaving Dubai coz they cant live here anymore due to the situation and coz they got fired and this is really bad...
Mortgage defaulters will be the next big issue in Dubai and laws will change, ppl will go to Gail for that (not to scare anyone but these are the rules),a good positive thing is that developers are giving buyers an extension in the payments that can go up to 6months and you might say that’s good but why would a developer do that? The answer is simple...THERE ARE NO OTHER BUYERS..
I really cant wait till this year ends and with gods will if were still alive to witness the next 2010 we might be walking with a smile and sleeping with no nightmares.. please all if you have any opinion on what will happen or heard things that REALLY happened in Dubai please do share so we can all be on the same page..
Good luck all in everything and hope things will get better and banks will be back in businesss ASAP as they are the main player in this situation..
Just wanted to share this opinion with alll...feeel freee to express opinions especially sasherwani
Cheeerss
